Bill > SB0439

This bill modifies tax increment financing (TIF) laws in Indiana by adding a provision that addresses how property taxes are calculated for undeveloped land when establishing a new redevelopment project area. Specifically, if a proposed redevelopment project area is not taxable at the time the allocation area is being established, any property taxes that would have been paid on undeveloped land shall be included in the base assessed value for determining property tax levy distributions to local units. This change ensures that even for completely undeveloped land, there is a baseline tax value that can be used for future tax increment calculations. The bill amends existing Indiana Code related to tax increment financing, which is a method local governments use to fund improvements and development in specific geographic areas by using the anticipated increase in property tax revenues generated by that development. The modification provides more clarity and standardization in how base assessed values are determined for new development areas, particularly those starting with undeveloped land.

Budget and Finance

https://iga.in.gov/legislative/2025/bills/senate/439/details